FRIENDS OF KEENE MEMORIAL LIBRARY

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1996

Legal Domicile

Principal Officer

DENISE KAY

Phone

4027272694

Tax Period

2023-01-01 to 2023-12-31

FRIENDS OF KEENE MEMORIAL LIBRARY, founded in 1996, is a small nonprofit in the Education sector that reported $596K in total revenue in fiscal year 2023. Revenue surged 30% from the prior year, signaling strong growth momentum. Expenses of $987K exceeded revenue, resulting in a 66% operating deficit.

Mission

TO INSPIRE THE COMMUNITY AND FULLY UTILIZE KEENE MEMORIAL LIBRARY FACILITIES AND RESOURCES, PROVIDE SUPPLEMENTAL SUPPORT, AND ENCOURAGE LIFE-LONG LEARNING.

Program Service Accomplishments

Program 1

Expenses: $126,864 Revenue: $105,415

TO SUPPORT KEENE MEMORIAL LIBRARY IN PROVDING ADULT AND YOUTH PROGRAMMING TO FREMONT AND SURROUNDING COMMUNITIES. PROGRAMMING INCLUDES SUMMER READING PROGRAMS, FAMILY READING PROGRAMS, BILINGUAL...

TO SUPPORT KEENE MEMORIAL LIBRARY IN PROVDING ADULT AND YOUTH PROGRAMMING TO FREMONT AND SURROUNDING COMMUNITIES. PROGRAMMING INCLUDES SUMMER READING PROGRAMS, FAMILY READING PROGRAMS, BILINGUAL READING PROGRAMS, YOUTH AND CHILDRENS EDUCATIONAL AND ENTERTAINMENT EVENTS, CHILDREN'S STORYTIME, HOLIDAY EVENTS, AUTHOR VISITS AND BOOK SIGNINGS, POETRY READINGS, GAME AND TRIVIA EVENTS, FILM SCREENINGS, BOOK CLUBS FOR CHILDREN, ADULTS, AND TEENS, TECHNOLOGY ASSISTANCE, CONCERTS, BLOOD DRIVES, YOGA AND WELLNESS PRESENTATIONS, AND OUTREACH TO THE ELDERLY, SHUT-INS, AND VARIOUS UNDERSERVED COMMUNITY GROUPS.

Program 2

Expenses: $860,303 Revenue: $486,416

PROVIDING ASSISTANCE TO KEENE MEMORIAL LIBRARY WITH RAISING FUNDS FOR A BUILDING EXPANSION PROJECT. PROMOTING COMMUNITY AWARENESS OF THE LIBRARY BUILDING EXPANSION PROJECT.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $591,841

Program Service Revenue $0

Investment Income $4,015

Other Revenue $0

TOTAL REVENUE $595,856

Expense Breakdown

Grants Paid $860,044

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $987,167

Other Expenses $127,123

TOTAL EXPENSES $987,167

Year-over-Year Comparison

	2023	2022	Change
Revenue	$595,856	$459,885	+0.3%
Expenses	$987,167	$564,196	+0.7%
Net Income	$-391,311	$-104,311	+2.8%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DENISE KAY	PRESIDENT	5.00	Officer Director	$0	$0	$0
CHRISTINE MORSE	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
KATE MULLEN	TREASURER	1.00	Officer Director	$0	$0	$0
SUSAN ALLEN	DIRECTOR	1.00	Director	$0	$0	$0
KATIE DURAN	DIRECTOR	1.00	Director	$0	$0	$0
MEGAN MOES	DIRECTOR	1.00	Director	$0	$0	$0
AMBER SINDELAR	DIRECTOR	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2023	$595,856	$987,167	$205,837	$-391,311
2022	$459,885	$564,196	$579,081	$-104,311
2021	$695,625	$130,857	$763,833	$564,768